Douva 0 #1 December 10, 2004 Ten things you should know, but might not, about buying and selling online: 1. NEVER, under any circumstances, pay for anything you buy online via Western Union. This is not what Western Union is designed for, and payments made through Western Union are virtually untraceable. 2. NEVER use an escrow service you are unfamiliar with. NEVER let the other party insist on using their escrow service. There are ten bogus escrow websites for every real escrow website. If you want to see how convincing these bogus escrow websites can be, check out www.escrow-sc.com. It's a scam. It'll be gone from that domain in a few days or weeks and show up at a new domain. If you want a real escrow service, go with the old standbys--www.escrow.com and www.squaredeal.com. 3. If a seller recommends an escrow service that turns out to be a fake, BREAK OFF ALL COMMUNICATION WITH THIS SELLER! Don't believe them when they apologize for the mistake and suggest another service--THEY ARE IN ON THE SCAM! 4. Escrow services, online auction sites, online vendors, etc., will NEVER ask you to complete any transactions via email. If you get an email from one of these sources, be skeptical. Does the email address you by your name, or does it address you by a vague pronoun, such as "sir," "madam," or "customer?" Most companies will address you by name, but being addressed by name doesn't necessarily mean the email is legit. If possible, go directly to the company's website by entering the address in your browser's address bar. Don't simply follow a link from the email. 5. NEVER give your personal bank account information to anyone. If they want to pay by wire transfer, use an escrow service. 6. Cashier's checks, bank drafts, and money orders can bounce, just like checks. They are NOT as good as cash, and contrary to popular belief, they do not clear in 24-48 hours (though hopefully they'll clear faster when nationwide instant check clearing takes effect). Even though the deposited funds may be available in 24-48 hours, the check or money order may not actually clear for up to two weeks. If it turns out to be a forgery or if it is has been declared lost or stolen by the purchaser, your bank will debit your account the amount of the deposit. If you've already spent the money, you will find yourself with a negative balance. Even worse, your bank may assume you deliberately deposited a bad check and report you to the authorities. 7. NEVER accept a cashier's check, bank draft, or money order made out for more than the amount of the purchase. The "just mail the difference back to me" scam is an old one, and you'll be the one footing the bill when the deposit bounces. 8. Beware of eBay and Amazon.com sellers who try to get you to complete purchases outside of the official eBay and Amazon.com systems. When you go outside the system, you give up all protection. 9. If you get taken, you have very little chance of getting your money back, and you may next become the victim of identity theft. 10. If it looks too good to be true, IT PROBABLY IS!!! The one factor that allows most people to be taken is not stupidity; it's greed. Everyone wants a "deal," but if you see a video camera or a plasma TV for sale at 15-20% of retail, you'd better take a long, hard look at the seller. If that friendly dealer wants to sell you an $80,000 BMW for $55,000, you'd better ask yourself "Why?" Despite what many of us would like to believe, people seldom sell expensive items ridiculously cheap simply because the item was a gift from an ex-spouse or they're moving to Europe or they got an employee discount or it fell off a truck or whatever BS story the con artist gives you. The rest of the world is just as greedy as you, and if someone got a super deal, you can bet they are going to take the profit rather than pass the savings on to you. Merry Christmas.I don't have an M.D. or a law degree. I have bachelor's in kicking ass and taking names. Quote Share this post Link to post Share on other sites
Douva 0 #2 December 10, 2004 QuoteIf you want a real escrow service, go with the old standbys--www.escrow.com and www.squaredeal.com. I gave the wrong address for that second escrow service--It's www.squaretrade.com. Sorry.I don't have an M.D. or a law degree. I have bachelor's in kicking ass and taking names. Quote Share this post Link to post Share on other sites
